Cidara Therapeutics Inc. (NASDAQ: CDTX) Stock Forecast For 2022: $8.00 Per Share On The Upside
Posted On July 27, 2022
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In the latest trading session, 7.91 million Cidara Therapeutics Inc. (NASDAQ:CDTX) shares changed hands as the company’s beta touched 1.35. With the company’s most recent per share price at $0.79 changing hands around $0.11 or 15.90% at last look, the market valuation stands at $45.80M. CDTX’s current price is a discount, trading about -202.53% off its 52-week high of $2.39. The share price had its 52-week low at $0.40, which suggests the last value was 49.37% up since then. When we look at Cidara Therapeutics Inc.’s average trading volume, we note the 10-day average is 0.28 million shares, with the 3-month average coming to 329.48K.
Analysts gave the Cidara Therapeutics Inc. (CDTX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.60. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CDTX as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Cidara Therapeutics Inc.’s EPS for the current quarter is expected to be -$0.28.
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Instantly CDTX is in green as seen in intraday trades today. With action -3.12%, the performance over the past five days has been red. The jump to weekly highs of 0.8800 on Tuesday, 07/26/22 added 15.90% to the stock’s daily price. The company’s shares are showing year-to-date downside of -46.26%, with the 5-day performance at -3.12% in the red. However, in the 30-day time frame, Cidara Therapeutics Inc. (NASDAQ:CDTX) is 31.25% up. Looking at the short shares, we see there were 0.64 million shares sold at short interest cover period of 2.87 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.60, meaning bulls need an upside of 85.89% from its recent market value. According to analyst projections, CDTX’s forecast low is $3.00 with $8.00 as the target high. To hit the forecast high, the stock’s price needs a -912.66% plunge from its current level, while the stock would need to soar -279.75% for it to hit the projected low.
Cidara Therapeutics Inc. (CDTX) estimates and forecasts
Data shows that the Cidara Therapeutics Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -17.39% over the past 6 months, a -37.04% in annual growth rate that is considerably lower than the industry average of 1.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Cidara Therapeutics Inc. will fall -255.60%, while the growth in revenue is estimated to hit 27.00% for the next quarter. Year-over-year growth is forecast to reach -48.70% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $6.18 million. 5 analysts are of the opinion that Cidara Therapeutics Inc.’s revenue for the quarter ending Sep 2022 will be $6.32 million. The estimates for the next quarter sales put growth at -10.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 24.60%. The 2022 estimates are for Cidara Therapeutics Inc. earnings to increase by 55.10%.
Cidara Therapeutics Inc. is expected to release its next quarterly earnings report between February 23 and February 28.
Cidara Therapeutics Inc. (NASDAQ:CDTX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.80% of Cidara Therapeutics Inc. shares while 47.12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.43%. There are 47.12% institutions holding the Cidara Therapeutics Inc. stock share, with BVF Inc. the top institutional holder. As of Dec 30, 2021, the company held 9.94% of the shares, roughly 6.86 million CDTX shares worth $8.71 million.
Nantahala Capital Management, LLC holds the second largest percentage of outstanding shares, with 7.63% or 5.27 million shares worth $6.69 million as of Dec 30, 2021.
Among Mutual Funds, the top two as of Dec 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 1.8 million shares estimated at $2.28 million under it, the former controlled 2.60% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.79% of the shares, roughly 0.55 million shares worth around $0.7 million.